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#ElSalvador | The Bukele administration has announced that next week it will sponsor a bill to convert #Bitcoin into legal tender alongside the $USD.
El Salvador dollarized its economy in 2001. "Central banks are increasingly taking actions that may cause harm to the economic stability of El Salvador," reads part of the bill. The move won't replace the dollar, but rather allow the Central Bank to acquire reserves of Bitcoin. 
The move also comes amid yearslong debate over whether to break away from the U.S. Dollar to give the Salvadoran Central Bank control over currency supply. A big part of this debate has been the large public debt & payment of public salaries and pensions. elfaro.net/en/202010/el_s…
Ricardo Zúñiga, @StateDept Special Envoy to the Northern Triangle, is in #ElSalvador today in Washington's first visit to #CentAm since Biden took office. Photo: Zúñiga, left, during a meeting yesterday with members of the Guatemalan justice system.
There is a stark contrast between Zúñiga's two-day visit to Guatemala, which begain with a meeting with @DrGiammattei, and his one-day trip to El Salvador. State Dept sources say he has no plans to meet with @nayibbukele.
His first meeting in El Salvador will be with the @OEA_CICIES and @MelaraRaul at 4:45 EST. He will then meet at the @USEmbassySV with representatives of various pro-transparency organizations from civil society, including @fusades, @Fundeorg, @CiudadanaAccio1 y @FundacionDTJ.
